Financial News
Life begins at 60, people say! What fun is it going to be if you are going to paying taxes for the rest of your life, post retirement? Now this is not something to lose sleep over because the Roth IRA comes as a perfect retirement plan for you. If you are not sure on how to proceed with the plan, you might want to check out and browse through roth-ira.org.
In general Roth IRA accounts have more advantages than a traditional IRA account. Read all post…
Tags: roth ira
The SET-listed information technology provider MFEC Plc is looking to acquire internet service providers and data centre businesses as it continues its mission to become a regional IT provider in preparation for regional integration.
Intense competition for top IT talent in the region will lead to higher salaries and could draw people away from Thailand, says MFEC president Siriwat Vongjarukorn.
President Siriwat Vongjarukorn says the company early next year will announce the second phase of its merger and acquisition strategy involving local data centre providers or ISPs to develop subscription-based cloud computing services as a new revenue stream.
Cloud computing is the delivery of computing as a service rather than a product, whereby shared resources, software, and information are provided as a utility over the internet.
Cloud computing will enable MFEC to deliver software as a service (SaaS), charging subscription fees rather than licensing fees.
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Tags: Regional, Regional Role
Oswald Gruebel did the right thing stepping down as UBS head over more than $2-billion lost in alleged rogue trading, but his departure has left the Swiss bank adrift.
CHRISTIAN HARTMANN/REUTERS
With all that’s happened in finance, it’s refreshing when the chief executive of a large institution accepts personal responsibility for a multibillion-dollar loss and resigns. But while Ossie Gruebel’s departure from UBS AG may preserve his reputation, it leaves the Swiss bank adrift.
Mr. Gruebel’s resignation puts a sudden stop to an otherwise admirable four-decade career. After stepping down from Credit Suisse at a high point in early 2007, he came out of retirement, partly from a sense of national duty, to lead the turnaround of UBS. The fut
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Tags: Adrift, Bank Adrift
We find different types of loans in our day-to-day society. One such loan is secured loan that you get by showing any valuable asset like house or car. If you have bad credit, you can still apply for your loan if you have something to put up as security. But without having any security and with poor credit, it becomes tricky process to get personal loan.
There are many financial institutions who offer these bad credit loans. These loans are particularly for those people who have either poor credit or no collateral for themselves. One uses this personal loan money to clear their debt amounts, make payment for their home construction or for medical bill or for any vehicle repair.
The best place to look for bad credit loan is your bank or credit union. Read all post…
Tags: personal loans
GOLD ended 2 per cent higher on demand for a store of value after Federal Reserve chairman Ben Bernanke gave markets no hint that another liquidity injection was imminent.
The chairman said the central bank was ready to provide more support to a weak US economy and the Fed would extend its mid-September meeting to two days to discuss options possible policy options.
“The committee will continue to assess the economic outlook in light of incoming information and is prepared to employ its tools as appropriate to promote a stronger economic recovery in a context of price stability,” Dr Bernanke said.
Gold prices whipsawed throughout Dr Bernanke’s speech, slumping $US20 to graze session lows then recovering to touch a high of $US1800.
But while the chairman gave no indications of more quantitative easing, many market-watchers took the September meeting extension as a sign that help was on its way.
“The market is looking for more easing at the September meeting and gold is driven higher by that,” said Matt Zeman, head of trading at Kingsview Financial.
Gold for December delivery, the most actively traded contract, settled up $US34.10, or 1.9 per cent, at $US1797.30 a troy ounce on the Comex division of the New York Mercantile Exchange.
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Tags: Gold, Gold Jumps
If Hurricane Irene rolls into New York City—the nations most densely populated area—it could threaten millions of lives, but also cost tens of billions of dollars and “tangibly increase the chance of a recession,” Nate Silver writes on the New York Times FiveThirtyEight blog. “The good news is that such a storm would have to make something of a bank shot”—theres about a 5% to 10% chance of that. But even a more likely landfall on Long Island would cause $10 billion in damage in NYC.
Analyzing 20 tropical cyclones that have landed north of Mason-Dixon since 1903, Silver looks at wind speed, distance from Manhattan, and fatalities to calculate various financial scenarios for Irene. A wor
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Tags: Cost, Hurricane Irene